Advice worth its weight in gold

At 63 years old, Paul had a career he loved, a wonderful family, a mortgage free house and enjoyed regular overseas travel.

He had spent his earlier years in the insurance industry and had good financial knowledge. He managed his and his wife’s insurance needs, seeking guidance when needed from his adviser.

Last year he decided to review his insurance cover, with a view to cutting back his income protection and trauma insurance. He believed he was in good health plus he only had a couple of years before retiring and debt levels were low. And cutting back the unnecessary covers to just life cover would give them more money for the travel fund, he thought.

But the advice from his long-time adviser Rob surprised him. While Rob did support reducing the benefit period to two years on the income protection, he strongly advised Paul against changing his longstanding life and trauma cover at this stage in life. So Paul made some small recommended changes but left the key covers in place. Little did he know, that would become the best decision of his life.

Just two weeks later, Paul was delivering a presentation to customers when what felt like an electric charge pulsed through his body. Two days later it happened again – Paul later found out they were seizures. After several tests including an MRI, Paul was delivered devastating news. He had a brain tumour. He was advised to get his affairs in order, and prepare for the worst. But despite the odds, twelve months later, after surgery, radiation and chemotherapy, Paul is in good spirits, and good health. He still has regular scans but he has a new take on life.

Looking back he says his adviser’s advice was more valuable than he ever knew at the time as it meant that Paul had insurance cover in place allowing him to focus on getting well. “You just don’t know what’s around the corner. Without Rob’s advice, I would have cancelled policies and cut back cover to only then facefinancial pressure. “The months after my diagnosis were hell for my wife and I but we were focused on my treatment and recovery, not how we were going to live. Now the future is bright – and I’m so thankful to Rob.”

*This is a real life claim but names and personal information have been changed to protect privacy.